Protagonist Therapeutics (NASDAQ:PTGX) Given New $50.00 Price Target at HC Wainwright

Protagonist Therapeutics (NASDAQ:PTGX) had its price objective boosted by HC Wainwright from $40.00 to $50.00 in a research report report published on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also issued reports on PTGX. BTIG Research boosted their target price on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the company a buy rating in a research report on Wednesday, July 24th. StockNews.com raised shares of Protagonist Therapeutics from a hold rating to a buy rating in a report on Thursday, August 8th. Truist Financial initiated coverage on shares of Protagonist Therapeutics in a research note on Monday, September 9th. They issued a buy rating and a $60.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the company an overweight rating in a research report on Thursday, July 25th. Finally, JMP Securities cut their price target on Protagonist Therapeutics from $45.00 to $43.00 and set a market outperform rating for the company in a research note on Wednesday, August 7th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of Buy and a consensus price target of $47.33.

Protagonist Therapeutics Price Performance

PTGX stock opened at $47.02 on Thursday. Protagonist Therapeutics has a 1 year low of $13.72 and a 1 year high of $47.15. The company has a market cap of $2.77 billion, a P/E ratio of 19.27 and a beta of 2.17. The stock’s fifty day moving average price is $39.76 and its 200-day moving average price is $33.23.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Tuesday, August 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.50). The firm had revenue of $4.17 million during the quarter, compared to analysts’ expectations of $40.00 million. As a group, analysts expect that Protagonist Therapeutics will post 2.31 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Asif Ali sold 14,203 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total transaction of $631,891.47. Following the completion of the transaction, the chief financial officer now directly owns 34,960 shares in the company, valued at approximately $1,555,370.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director William D. Waddill sold 8,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total transaction of $360,000.00. Following the sale, the director now owns 12,000 shares in the company, valued at approximately $540,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Asif Ali sold 14,203 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total transaction of $631,891.47. Following the completion of the sale, the chief financial officer now directly owns 34,960 shares in the company, valued at approximately $1,555,370.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,203 shares of company stock worth $1,311,891. Corporate insiders own 5.40% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in shares of Protagonist Therapeutics during the 1st quarter worth approximately $35,000. Lazard Asset Management LLC bought a new stake in shares of Protagonist Therapeutics during the first quarter worth $69,000. Point72 DIFC Ltd purchased a new stake in shares of Protagonist Therapeutics during the second quarter valued at $153,000. Seven Eight Capital LP purchased a new stake in shares of Protagonist Therapeutics during the first quarter valued at $202,000. Finally, CANADA LIFE ASSURANCE Co increased its stake in Protagonist Therapeutics by 74.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 9,083 shares of the company’s stock worth $263,000 after buying an additional 3,870 shares during the period. Institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc, a biopharmaceutical company, develops peptide-based drugs for hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing Rusfertide (PTG-300), an injectable hepcidin mimetic that completed phase 2 clinical trials for the treatment of polycythemia vera and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that completed phase 2b clinical trials for the treatment of moderate-to-severe plaque psoriasis; and PN-943, an orally delivered, gut-restricted alpha 4 beta 7 specific integrin antagonist completed a phase 2 clinical trials in patients with moderate to severe ulcerative colitis.